Quiz 2 MKT 3013

The U.S. government collects and publishes data by _____ codes -- groups of firms in similar lines of business.

NAICS

The AIO items used in life-style analysis include:

activities, interests, and opinions

Organizational buyers:

are problem solvers

Which of the following observations concerning planning strategies for international markets is FALSE?

A marketing manager should know that understanding local cultural differences is of no real value.

With respect to culture and consumer behavior,

Culture is the whole set of beliefs, attitudes, and ways of doing things of a reasonably homogeneous set of people. Culture may exert many subtle influences on other aspects of consumer behavior. Different cultural subgroups are likely to require different marketing mixes.

A "market" consists of:

Customers who are willing to exchange something of value. A group of potential customers with similar needs. Sellers offering various ways of satisfying customer needs.

Which of the following is not a major step in the learning process?

Dissonance.

_____ are concerned with making the best use of a consumer's time and money—as the consumer judges it.

Economic needs

Which of the following is not one of the target marketing approaches for developing market-oriented strategies in a broad product-market?

Exclusive.

Which of the following is not an economic need?

Hunger.

Which of the following is NOT an organizational buying process?

Important task buy.

Regarding the market composed of manufacturers in the United States:

Manufacturers tend to be concentrated in specific areas.

__________________ is the process of naming broad product-markets and then segmenting these broad product-markets in order to select target markets and develop suitable marketing mixes.

Market segmentation

The government market:

Often has a buying process that includes purchase specifications and competitive bidding

____ is one of the psychological variables that affects a person's buying behavior.

Perception

_____ refers to how customers think about proposed or present brands in a market.

Positioning

Which of the following is a business or organizational customer?

Producers of goods or services. A retailer. A wholesaler. A government agency.

Which of the following statements about purchasing by small service firms is false?

Purchases by small service firms are usually handled by a person with full-time responsibility for purchasing.

Which of the following statements is true?

Qualifying dimensions help identify which customers are in the product market. Qualifying dimensions help identify the core benefits. Determining dimensions help identify the customer's purchase of a product or brand.

Which of the following is not a selective process used in gathering and interpreting Information from the world around us?

Selective attention.

When consumers screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs, this is called:

Selective perception.

A____ is a strong stimulus that encourages action to reduce or satisfy a need.

drive

Good" market segments are those which are:

heterogeneous between. operational. substantial. homogeneous within.

Differentiating the marketing mix is important because:

it can help the firm build a competitive advantage with a group of target customers. it can clarify the position the firm wants to achieve with customers. marketing mix decisions can be better blended to achieve desired objectives.

Concerning consumer and business markets:

it is often easier to define customer needs in business markets.

The segmenting step of the segmentation process

looks for similarities in needs.

A _____ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.

market segment

A complete product-market definition includes a four-part description comprising of all of the following except

marketing mix.

A "buying center"

may vary from purchase to purchase.

The consumer decision process begins with

need awareness.

Regarding consumer motivation, the text states that:

needs are the basic forces which motivate people to do something. Wants are learned needs.

All of the following are key dimensions of relationships in business markets EXCEPT:

non-specific adaptations.

Consumer buying behavior is affected by:

opinion leaders. social class. physiological, safety, social, and personal needs. reference groups.

Ranked from lowest level to highest level, the PSSP hierarchy of needs model includes:

physiological, safety, social, and personal needs.

A _____ is a market with very similar needs and sellers offering various close substitute ways of satisfying those needs.

product market

A generic market description should not include any:

product type terms

When deciding how far to carry the segmenting process,

profit should be the balancing point.

A college student on her way to take an exam remembers that she doesn't have a pencil

purchase situation.

A specialist within a company who is responsible for all of the company's major purchases is call all except:

salesperson.

Purchasing managers rely on Internet ______________ ______________ to quickly identify new supplies.

search engines

Motivation theory

suggests that most products must fill more than one need at a time.

In the seven-step approach to market segmentation

the first step is to name the broad product-market. the qualifying needs are identified before the determining needs. the size of each sub market is not considered until Step 7.

Ideally, product-markets should be described in terms of:

urgency to get needs satisfied and desire and willingness to compare and shop. behavioral needs, attitudes, and how present and potential goods or services fit into Customers consumption patterns. Geographic location and other demographic characteristics of potential customers.